$100m retail spending splurge on reopening day

NSW residents splurged $100 million at retail outlets on Monday, as the eased health restrictions allowed for a resumption of trading at places including hairdressers and restaurants.

It represents a 185 per cent jump from the previous Monday when NSW residents spent $35 million at retail outlets, according to estimates from National Australia Bank.

NSW residents spent $12.8 million at restaurants pubs and bars – up from $1 million on the previous Monday – and $5 million on hairdressers and barbers.

Spending on clothing increased tenfold from $1 million to $10 million.
NAB group executive Andrew Irvine said the “energy among the small business community is palpable”.

“They are feeling really confident and should now be looking forward to a strong remainder of the year and an even better 2022.

“Now, we look forward to Victoria’s vaccination level reaching 70 per cent and giving small businesses there the certainty to plan, move forward and keep driving business-led economic growth.”

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